Broomfield, Colo.-based Real Goods Solar, a residential solar installer, has set terms for its planned initial public offering in a filing with the U.S. Securities and Exchange Commission.

The company expects to sell 5 million Class A shares at $10 to $12 per share on the Nasdaq under the symbol RSOL, hoping to raise up to $69 million, including an the underwriters' overallotment.

ThinkPanmure, formerly ThinkEquity Partners, is the lead underwriter on the deal.

Real Goods Solar, a subsidiary of Broomfield, Colo.'s Gaiam (Nasdaq: GAIA), said it's installed more residential solar energy systems in the U.S. than any other company, including more than 2,400 residential and small commercial systems.

Gaiam, which sells environmentally friendly lifestyle products, will continue to control Real Goods Solar through its 100 percent holding in Real Goods' Class B shares. The Class B shares are worth 10 votes apiece, versus one vote per Class A share.

Real Goods Solar plans to use $19.8 million of its expected proceeds to repay amounts owed to parent Gaiam, with the remainder of the cash going toward working capital and general corporate purposes, which it said could include future acquisitions.

The company recently grabbed Marin Solar and Carlson Solar, two California solar installers.

Real Goods Solar acquired Marin Solar in November 2007 for $3.2 million in cash. Marin could also get additional consideration of warrants to purchase 40,000 Class A Real Goods Solar shares if it reaches certain milestones.

Calson Solar was bought by Real Goods Solar in January of this year, also for $3.2 million in cash, plus warrants to buy 30,000 Class A Real Goods Solar shares.